Regan Mithani, the cofounder of Xpedize, a SaaS startup acquired by Clear, died on March 29 while vacationing in Singapore. The cause of death remains unconfirmed.
In a statement, Clear expressed their sorrow, stating, "Regan transitioned from his role at Clear to create a venture that combined his love for cricket with his business expertise. He was a remarkable person and a loyal friend to the Clear community. His unexpected passing is deeply tragic; may he rest in peace."
Mithani established Xpedize in 2017 alongside Deepak Gugnani in Gurugram. The company specialized in supply chain finance, focusing on invoice discounting and working capital management, allowing SMEs and their suppliers to utilize dynamic discounting.
Xpedize attracted investments from notable firms such as YourNest Venture Capital, HDFC Capital Advisors Limited, and Lumis Partners.
In 2022, Clear acquired Xpedize to enhance its B2B payment services. Following the acquisition, Mithani and Gugnani took on roles as vice presidents at Clear, and Xpedize was rebranded as ‘Clear Invoice Discounting’ to provide liquidity solutions for suppliers.
Before founding Xpedize, Mithani held several leadership roles at Citibank India.
Mohit Hira, a partner at YourNest Partner Capital, shared his condolences on LinkedIn, reminiscing about their conversations on sports and brand building. He expressed regret over not being able to meet again.
This loss marks the second significant blow to the Indian startup scene this year, following the passing of Icertis cofounder Samir Bodas in January at the age of 61 after battling cancer.
